We are honored to have received Two Awards at the Intuit Quickbooks Excellence Awards 2013 in association with Bloomberg TV India at Delhi on 21st November 2013. Naresh J Patel & Co, Chartered Accountants received “ACCOUNTANT OF THE YEAR” and for NRI Advisory received “CUSTOMER CENTRIC BUSINESS OF THE YEAR”. At the event, total […]
Illustrative list of Observations/Comments/Remarks in Tax Audit Report Form 3CA/3CB PREFACE Section 44AB requires the tax auditor to submit the audit report in the prescribed form 3CA/3CB as applicable. It may be noted that the audit report in Form No.3CB is in two parts. The first part requires the tax auditor […]
Which retirement accounts is right for you in United States? (Roth IRA or Traditional IRA) IRA (Individual retirement accounts) are a key part of long term savings and investment. But before you open the account, you first need to understand which retirement accounts is benefit for you. Each IRA have its […]
INCOME TAX DUE DATE EXTENSION CBDT has yesterday vide Circular No. 9/2021 granted major relief to taxpayers facing hardship due to the severe pandemic & in view of representations received, by way of extension of certain timelines for compliances under Income Tax Act. Please find below the list of compliances where the due date […]
Tax Return 1040: Standard Deduction vs Itemized Deduction Tax Return for Individuals (in USA) Form 1040 provides option of selecting Deductions from income either Standard or Itemised. The Standard deduction is a fixed amount that reduces the income you’re taxed on but for itemized deductions, you need to keep track of […]
COVID RELIEF MEASURES – INCOME TAX, GST and MCA The government has extended key compliance timelines for Income Tax and Goods & Service Tax (GST) and waived late fees to ease the compliance burden during the second wave of Covid-19. The relief mesaures are tabulated below for ready reference. Alternatively, you […]
Covid related Information (Beds availability, Tiffin services, Remdesivir Injection, Plasma etc.) – AHMEDABAD With the objective to share the details relating to Covid requirement at one place, the attempt is to compile the details for Ahmedabad. I have tried to compile the data from reliable source, however in case if you […]
A lot of people are moving back to India because of multiple reasons like retirement, career – business or job, family or visa issues or any other reasons. “Why move” is THE most important decision. Once you have made up your mind, the next thing comes to mind is how best […]
Budget 2021 was projected as “Budget Like Never Before” creating a lot of expectations in tax benefits for tax payers. While there is not much changes in the tax codes, it is a great budget as it paves a way for establishing a trusting relationship between investors and tax payers. The […]
Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval on 13th March 2020 for introducing the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP). The Indian Government has come up […]
2020 has been an unusual year in everyone’s life affecting us both emotionally and financially. As 2020 is coming to an end, I analyzed it to understand how the year profoundly affected our financial life – businesses, finances, cash flow, income, expenses, savings, investments, insurance, families, and other aspects of our […]